ThinkOrSwim petition to implement some changes or functions we want to see?

[jngy2k]

I've contacted TOS support several times about having more data retrievable for scripts. Their developers don't plan on making any changes in the near future. I feel they don't have the power to make changes unless there's more customer demand. I wanted to have a way to display Market Cap and Industry data for the charts since the information is readily available for the scans.

Does this community have any requests for changes they'd like to see in TOS?

 

[MerryDay]

@jngy2k With the merger just having been completed and with them only playing lip-service to which of the online platforms has long-term viability. I am betting we will not be seeing much investment in the infrastructure. My own background in mergers and acquisitions would lead me to believe that they will allow all three systems to limp along this year and maybe next. Now that the shake-up in upper-level management is settling down, they will be working on a plan but it will be more of a Five-Year Plan, the end of which, will result in only one platform surviving. Popular opinions give ThinkOrSwim even odds of being that platform. All that said, mobile investing apps are exploding with new retail investors. It is possible Swab will what to get in on that but it might not happen w/ the TOS mobile app because it ****s. If they do come out with a mobile app that is not compatible with TOS. That does not bode well for TOS's long-term future. IMHO

 

[rad14733]

@MerryDay From what I've read, Schwab has stated they will be retaining Thinkorswim and may switch to it as their main trading platform offering for their clients as well... However, that being said, I think they have also placed a minor hold on any major platform changes and are concentrating on bug fixes and performance issues... But that wouldn't negate the possibility of future changes should they receive enough requests...

 

[MerryDay]

@rad14733 As I said, I was only speaking from my own background in Mergers&Acquistions. There is a textbook approach that most companies follow. The determination of employment based on economies of scale, which for the most part seems to be done. The migration to one internal system. The migration to one external system. Technically, Schwab did not say they were "retaining TOS, their exact quote was

“Our plan to adopt the thinkorswim suite of products and educational resources reflects its status as one of the strongest retail active trader platforms in the industry,” said Barry Metzger, Senior Vice President of Trading Services at Charles Schwab. “For users of Schwab’s StreetSmart Edge® platforms, there is no change. As we look ahead, we intend to thoughtfully combine the great capabilities, tools and service at both firms to provide a unified, world-class trading experience for clients.”

No company involved in a merger comes out and says, "we are dropping you like a rock". The standard is to say, "we are committed to continuing to offer you exceptional service and support". While sometimes planning to drop you like a rock at a later date. Schwab has been clear, they will be combining into one 'unified' platform. There is so much work in just coming up with the hypothetical framework for the merger of the power of both systems. Will they keep one as the base and update it with the capabilities of the other or will they create a whole new product from scratch. The developers must already be working overtime, all while still maintaining two systems. TOS has been trying to manage expectations by officially saying that there will be no major updates in the foreseeable future. I am not negating the power of common men to enact change when they unite and demand it, I keep picturing in my mind, the developers laughing on the floor if management suggested that any major updates should be worked into what is usually an impossible deadline to start with.

Whatever happens, the textbook says that they maintain both systems for at least the next 18mths. After that, they will provide support for another x-period of time for the expiring platform(s). Not all companies follow the textbook so all of this is just my opinion. HTH

 

[rad14733]

@MerryDay You're right on the timeframe of 18 months or so... Not sure where I read about the retainment of TOS but it wasn't in their news release... Merging infrastructures can be a nightmare... We'll just have to wait and see how things transpire...

I can think of several improvements I'd like to see for continuity across the platform... I should have been keeping a list but one major improvement would be the ability to reference custom Studies within Studies just as they can be in Scans and Custom Watchlist Columns... That to me is a biggie...

 

[MerryDay]

@rad14733

Some great things that I would like in the merged platform:

1. ability to reference custom Studies within Studies
2. unlimited watchlist fields (one can dream)
3. more resources so to cut down on the "too complex" issues especially where conditional orders are concerned. This is my biggest one.
4. conditional orders that can handle multiple aggregations.
5. Overall, the conditional order module is an afterthought. It needs a complete overhaul.
6. a robust portfolio management, analysis, tracking module, the Monitor tab is an embarrassment.
7. the ability to mass copy, organize, delete watchlists and scans. The current method harkens back to DOS days.

TOS charting is awesome. But as my wishlist reflects there are issues with the fundamental base of TOS which makes me unhopeful that the TOS engine will win out. And it's single-threaded. And the mobile app ****s. However, I do think TOS investors are not a small group, if we are the ones that have to migrate they will bend over backward to make it as least painful as possible.

@rad14733 I know you keep an eagle eye on the equities you have in play. But for those, who have full-time jobs and/or other responsibilities, and can not be available during the day or for swing traders like myself, given the market lately, can have an awesome day or a dead day, just having to sit in front of screens is unacceptable. I left TOS for a while because of the lame conditional orders module but turns out the TOS support, this forum's awesome support, and TOS's scripting and charting are worth more to me than conditional orders so I am willing to overeat while I stare at my screens.

Sorry, @jngy2k We have turned your thread from what changes we would like to see now, Into a thread about what we would like to see in 2yrs after the merged platform has been created. It's because I don't have any hope that there is a possibility anything will happen for the current platform. But if we are able to start NOW giving a united shout about what is important to us; what we want to see on the new system, it could be done.

 

[codydog]

Between being a Java based platform and the soaring use of passive products, its hard to believe a broker would continue to support a platform unless it generates tons of commissions. The possible bad press, from someone blowing up and creating large third party risk, is enough to negate the interest in keeping it, imo, but you never know

 

[crazyturtle]

I've contacted TOS support several times about having more data retrievable for scripts. Their developers don't plan on making any changes in the near future. I feel they don't have the power to make changes unless there's more customer demand. I wanted to have a way to display Market Cap and Industry data for the charts since the information is readily available for the scans.

Does this community have any requests for changes they'd like to see in TOS?

I do not get why TD Ameritrade cannot develop Elliott Waves and Wolfe Waves charting indicator for TOS? Such a shame! I have also been asking TOS support for a few years, and always the same answer, "we will forward the question to our tech development team". Total nonsense that TOS lacks these two charting indicators.

 

[netarchitech]

Schwab is more like a bank then a broker. Over 57% of Schwab’s revenue comes from its net interest margin. The spread between what Schwab pays its customers on its cash versus what Schwab can earn on its investments in 2-year U.S. Treasuries.

source: https://www.amminvest.com/charles-schwab-schw-zero-commissions/

Schwab could afford to go to Zero Commissions...as long as it continues to grow its' client base...This is why Schwab acquired TDAmeritrade... It's a lot cheaper to buy a client base than it is to grow a client base...

As for petitioning to implement change, I don't think Schwab will be looking to truly enhance Thinkorswim any time soon...

 

[Mr_Wheeler]

I'll break the ice. I wish that there was better label formatting. I have some labels that I use as notes to remind me to trade only in specific conditions based on what the studies show. I wish that think or swim had better formatting so you can choose how the labels show up on the chart such as allowing you stack the labels over each other on the right side of the chart.

I wish that the "think back" feature had a feature that you could press a button and it would give you a random stock on a random day & time, with no stock ticker symbol to help you train yourself to use your charting skills. Maybe they could create a high score system to let you rank yourself aginst other users of the platform.

 

[MerryDay]

@Mr_Wheeler
You will find other ideas throughout this thread.

FYI: Schwab and TD Ameritrade are working together to combine the strengths of our firms and come together as one company to benefit you. To ensure we have time to build the best experience possible for our clients, we expect account conversion to be complete within 30-36 months of the original deal close, which would be somewhere between April and September of 2023 for most accounts

https://welcome.schwab.com/
They are not planning on rolling out anything new before April 2023.

This statement does not give me a warm and fuzzy:

For now, it's business as usual at TD Ameritrade. As we work to combine our complementary strengths

https://www.tdameritrade.com/why-td-ameritrade/td-ameritrade-charles-schwab.html

 

[Mr_Wheeler]

I would change up the bracket system by adding features.

• Allow you to edit the name of a bracket
• Allow you to configure a bracket's settings
• Allow more types of bracket orders. I have some brackets set up to enter a sell order based on profit size.
• Add a feature that detects the entry price to be automatically entered into a limit sell, or a stop limit so you're able to exit out of a bad position at the price you entered to begin with

 

[MerryDay]

I do not get why TD Ameritrade cannot develop Elliott Waves and Wolfe Waves charting indicator for TOS? Such a shame! I have also been asking TOS support for a few years, and always the same answer, "we will forward the question to our tech development team". Total nonsense that TOS lacks these two charting indicators.

They have licensed a very few commercial indicators, so it doesn't hurt to ask for them.
TOS Indicators:

• Elliot Waves
• Wolfe Waves
• Volatility Contraction Pattern (VCP) by Mark Minervini He offered to make it available to TD, all he heard back was crickets.
• ?

 

[MerryDay]

It sounds like the ThinkOrSwim platform will be around for a while: "TD Ameritrade and Schwab will continue to run two separate custodial platforms “for the coming year, plus.”

Regardless of how long the integration takes, Welsh noted some kinks will have to be worked out once the integrated platform launches and clients start using it — especially in light of the need of the system to handle massive trading traffic, Welsh said.

 

[crazyturtle]

I have been bugging TOS Support to add a Limit Order w/Stop Loss cell to a Dashboard button. I would use this as a small window to quickly add Limit orders. Similar to what other platforms have. At this moment, in TOS one has to open the Order tab to manually add a limit order w/stop loss, or Active Trader to do it on the ladder itself. Am I missing a way to do this in TOS presently? It really ****s that TOS is behind on this simple feature other platform have as a standard option.

• Limit Order w/ Stop Loss as part of Dashboard Button and ability to make it a separate window

Thank you

 

[aarhmlqh]

I'd love to be able to see the price of the underlying on the confirm order screen on the android app when getting ready to send an options order. On just a stock order you can see the price changing but on an options order you only see the options prices changing from the "order editor" screen. You can see the underlying price on this screen on the iphone app, so why not on the android app?

I'd also love custom order templates to work on mobile!

 

[CapitaineFlam88]

There is a lot of place for improvement in thinkScript, is the scripting part of TOS dead, are they working on anything to improve it at TD Ameritrade?

 

[MerryDay]

@CapitaineFlam88
In answer to your question, the last maintenance and update was last night.

To see a list of what they add with every major release, see this link:
https://tlc.thinkorswim.com/center/release

It seems to be accepted amongst most thinkscripters that ToS strengths are charting and script abilities.
Limitations: ToS does not provide a robust platform to execute complex scripts for options, forex, and crypto. Portfolio management abilities are sparse. Date/time calculations are not for the math-challenged. Execution of trades are not as competitive as some other platforms which is why you will see members scripting and charting on ToS and placing trades elsewhere.

Other than the above, I haven't come across much that can't be done in thinkscript. Its purpose is to plot. Once that plot is defined then that plot can be traded.

Schwab is committed to providing an integrated platform of StreetSmart and ThinkOrSwim. Given that ToS is a single-threaded executable, this requires a re-build from ground zero. A huge undertaking that they don't foresee being completed before April 2023.
"TDAmeritrade and Schwab will continue to run two separate custodial platforms “for the coming year, plus.”

Regardless of how long the integration takes, Welsh noted some kinks will have to be worked out once the integrated platform launches and clients start using it — especially in light of the need of the system to handle massive trading traffic, Welsh said.

The more I have read, the more excited I get about the integrated platform. I have high hopes that it will take the best of what ThinkOrSwim offers with the improvements of a multithreaded executable. That and the commitment of more resources should do away with the "too complex" issues. We will be able to have ATR trailing stops in our exit orders, more robust OCOs, REAL portfolio analysis scripting, etc...

I moved your post to this thread because the hope is that if we as a community speak with one voice that we can see some of the changes that we most want in the new integrated platform.

This is the place to add what changes you would like to see.

 

[Glefdar]

@CapitaineFlam88
In answer to your question, the last maintenance and update was last night.

To see a list of what they add with every major release, see this link:
https://tlc.thinkorswim.com/center/release

It seems to be accepted amongst most thinkscripters that ToS strengths are charting and script abilities.
Limitations: ToS does not provide a robust platform to execute complex scripts for options, forex, and crypto. Portfolio management abilities are sparse. Date/time calculations are not for the math-challenged. Execution of trades are not as competitive as some other platforms which is why you will see members scripting and charting on ToS and placing trades elsewhere.

Other than the above, I haven't come across much that can't be done in thinkscript. Its purpose is to plot. Once that plot is defined then that plot can be traded.

Schwab is committed to providing an integrated platform of EasyStreet and ThinkOrSwim. Given that ToS is a single-threaded executable, this requires a re-build from ground zero. A huge undertaking that they don't foresee being completed before April 2023.
"TDAmeritrade and Schwab will continue to run two separate custodial platforms “for the coming year, plus.”

Regardless of how long the integration takes, Welsh noted some kinks will have to be worked out once the integrated platform launches and clients start using it — especially in light of the need of the system to handle massive trading traffic, Welsh said.

The more I have read, the more excited I get about the integrated platform. I have high hopes that it will take the best of what ThinkOrSwim offers with the improvements of a multithreaded executable. That and the commitment of more resources should do away with the "too complex" issues. We will be able to have ATR trailing stops in our exit orders, more robust OCOs, REAL portfolio analysis scripting, etc...

I moved your post to this thread because the hope is that if we as a community speak with one voice that we can see some of the changes that we most want in the new integrated platform.

This is the place to add what changes you would like to see.

Thanks for sharing your insights. Do you think that it's a near certainty that whatever the new platform is, it will have full backwards compatibility with the ThinkScript language, such that studies made for ThinkorSwim will be able to be imported and run in the new platform without any conversion or modification required? It seems to me like the abundance of existing scripts and continued compatibility of custom ones users already made is a main competitive advantage, in the form of a barrier to losing people already in this ecosystem, that they wouldn't want to throw away.

 

[MerryDay]

@lmk99 Charles Schwab has not released any significant information about the integrated platform. But I do not think it's a question of whether they are keeping ToS scripting language as StreetSmart does not have one.

The StreetSmart's base is already a multithreaded executable so it makes sense that it will be the StreetSmart menus, screens, and it's look and feel that is carried over into the integrated platform.

However, any guesses about what we will get TWO YEARs from now are completely theoretical. It was not even conceivable that Schwab would buy the much larger online broker TDA. But they did. They could now be doing something else inconceivable. They could announce tomorrow that they bought Robinhood and that will be their digital platform. Oh my!

For me, I am excited that they understand the scope of the massive amount of resources that they need for the integrated platform. I am taking Schwab at their word that the integrated platform will take the best of both ThinkOrSwim and StreetSmart.

And remember that all of this is not scheduled to happen for two years+.
Maybe two years from now, I will have made so much money, trading that I will be retired and living in the Maldives.
So meanwhile, I will continue to grow my knowledge of ThinkOrSwim to better assist the trading I am doing today.